Dividend RiskEarnings estimates remain below current dividend, putting the dividend at risk of being reduced without a change in strategy or substantial monetizations.
Earnings ChallengesThe gains from selling equity positions in multi-family real estate and other mortgage assets are non-recurring, which may not lead to similar performance in the next three quarters.
Market ConditionsA soft market for multi-family real estate, caused largely by high interest rates, resulted in continued losses on NYMT's joint venture equity positions in multi-family real estate.